Category Captain: Front End: Coinstar
During 2011, Coinstar launched video game rentals at about 27,000 Redbox kiosks nationwide; teamed with Foursquare, a location-based mobile application with 10 million registered users, to enable consumers to check in at familiar spots while they choose from new-release movies and games at Redbox; launched the Redbox Android app; and upgraded its Redbox iPhone app and the www.redbox.com brand website.
On the coin conversion front, the company and a major national retailer introduced a no fee-option that allows customers to cash in their coins free when they choose the gift card option at a Coinstar kiosk. The option is available at around 1,000 stores across the country. Meanwhile, the rollout of “Give-A-Code & Accept-A-Code” technology enables multiple promotion types and enhanced promotion tracking capabilities, while providing a seamless consumer experience. Additionally, an innovative consumer website now offers the “My Coinstar” account feature, which allows users to receive customized messages and alerts based on their shopping interests, get exclusive offers from popular consumer brands, and track their coin-counting transaction history.
Coinstar continues to explore new self-service innovations by creating organically, investing or acquiring. At any given time, the company has multiple product seeds that are somewhere in the development cycle, from concept to market testing to potential rollout. Current examples include live testing of a coffee kiosk to take advantage of a growing market that’s projected to reach $28.5 billion in 2012.